Ault Alliance hits record Bitcoin mining run rate in February
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LAS VEGAS – Ault Alliance, Inc. (NYSE American: AULT), a diversified holding company, announced that its subsidiary Sentinum, Inc. achieved a significant milestone in its Bitcoin mining operations, reporting the mining of approximately 103 Bitcoin in February 2024.
This performance indicates the highest monthly run rate for the company, amounting to roughly $7.4 million based on the current Bitcoin price of $72,000 per coin. The annual run rate for the company’s Bitcoin mining operations is now projected to be around $89 million.
The mined Bitcoin were sourced from two locations: approximately 52 from Sentinum’s data center in Michigan and about 51 from mining machines hosted with Core Scientific, Inc. William B. Horne, CEO of Ault Alliance, indicated that operational improvements are ongoing. He also mentioned that the company plans to relocate machines from Michigan to Montana this month, which is expected to facilitate expansion at the Michigan site to support High-Performance Computing and Artificial Intelligence applications.
Despite the optimism, Ault Alliance acknowledges the inherent uncertainties in the cryptocurrency market, including Bitcoin price volatility, changes in mining difficulty, and the upcoming halving of Bitcoin block rewards. The company has not made any predictions regarding the impact of these factors on Bitcoin prices or its mining operations.
Ault Alliance is a holding company that acquires undervalued businesses and disruptive technologies with a global impact. It owns and operates a data center for Bitcoin mining and offers various services including colocation and hosting for artificial intelligence ecosystems. The company also operates in a range of industries such as oil exploration, defense/aerospace, and medical/biopharma, among others.
The information for this report is based on a press release statement from Ault Alliance, Inc.
